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Advanced Economics Week #4

Advanced Economics Week #4. Spring 2012. Advanced Economics 4/16/12 http://mrmilewski.com. OBJECTIVE: Examine consumer spending with credit cards. I. Administrative Stuff -Attendance -Journals 1-10 due tomorrow -Ch#10sec#4 & Ch#13sec(2-4) II. Journal#10 -notes Frontline: The Card Game

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Advanced Economics Week #4

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  1. Advanced Economics Week #4 Spring 2012

  2. Advanced Economics 4/16/12http://mrmilewski.com • OBJECTIVE: Examine consumer spending with credit cards. • I. Administrative Stuff -Attendance -Journals 1-10 due tomorrow -Ch#10sec#4 & Ch#13sec(2-4) • II. Journal#10 -notes Frontline: The Card Game • Notice: 36 Days until the Senior’s Last Day!

  3. Advanced Economics 4/17/12http://mrmilewski.com • OBJECTIVE: Begin examination of economic statistics. • I. Journals 1-10 Due! • II. Journal#11pt.A -Watch the following: -Indiana's RV Industry Starts a Comeback Amid Uncertain Economy • III. Journal#11pt.B -notes on economic statistics • Notice: 35 Days until the Senior’s Last Day!

  4. Quote • Everybody is a genius. But if you judge a fish by it's ability to climb a tree, it will go through it's whole life thinking it is stupid. • ~Albert Einstein

  5. Full employment • When people work, they earn income for themselves while producing goods and services for others. http://www.publicradio.org/columns/marketplace/whiteboard-blog/Employment-Jan-2011-CORRECTED.jpg

  6. Economic growth • Growth is needed so that people can have more goods and services. • Since the nation’s population is likely to grow, economic growth is necessary to meet everyone’s needs. http://change-production.s3.amazonaws.com/photos/wordpress_copies/uspoverty/2010/10/2010-10-29econ-f1-250x174.jpg

  7. CPI • Consumer Price Index – an index used to measure price changes for a basket of frequently used common items. • The CPI reports on price changes for 90,000 items in 364 categories from 85 geographic areas of the country and are compared to their 1982-84 base year prices. • Produce Price Index – measure price changes paid by domestic consumers for their inputs and is based on a sample of about 100,000 commodities and uses 1982 as the base year.

  8. Midwest urban CPI • Source: • U.S. Department of Labor Bureau of Labor Statistics • Base Year • 1982-84=100 http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=dropmap&series_id=CUUR0200SA0,CUUS0200SA0

  9. Midwest Urban CPI 1967-2005 http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

  10. Midwest Urban CPI 1988-2005 http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

  11. Advanced Economics 4/18/12http://mrmilewski.com • OBJECTIVE: Examine the history of oil. • I. Film: Modern Marvels, Oli -Answer questions while watching the film • II. Study Hall -work quietly until the end of class • Notice: 34 Days until the Senior’s Last Day!

  12. Advanced Economics 4/19/12http://mrmilewski.com • OBJECTIVE: Continue examination of economic statistics. • I. Journal#12pt.A -Watch the following: -Getting the Laffer Curve Right • II. Journal#12pt.B -notes on economic statistics • Notice: 33 Days until the Senior’s Last Day!

  13. CPI • Consumer Price Index – an index used to measure price changes for a basket of frequently used common items. • The CPI reports on price changes for 90,000 items in 364 categories from 85 geographic areas of the country and are compared to their 1982-84 base year prices. • Produce Price Index – measure price changes paid by domestic consumers for their inputs and is based on a sample of about 100,000 commodities and uses 1982 as the base year.

  14. Midwest urban CPI • Source: • U.S. Department of Labor Bureau of Labor Statistics • Base Year • 1982-84=100 http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=dropmap&series_id=CUUR0200SA0,CUUS0200SA0

  15. Midwest Urban CPI 1967-2005 http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

  16. Midwest Urban CPI 1988-2005 http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

  17. Organized Stock Exchanges • NYSE – oldest, largest, and most prestigious in the U.S. Located on Wall Street in NYC • AMEX – smaller stocks, those who can’t quite make it to the NYSE are traded here. (the JV team) Also located in NYC • Regional Stock Exchanges – originally listed small companies and new companies. Now, they trade local stocks and better meets the needs of smaller companies. Located in: Chicago, Pacific, Philadelphia, Boston, and Memphis

  18. Over-the-Counter Market • OTC – most stocks in the U.S. are not traded on organized exchanges. They are traded electronically using NASDAQ • NASDAQ – National Association of Securities Dealers Automated Quotation • Few OTC stocks pay dividends. Most are small and new companies

  19. Bull v. Bear • Bull market – when stocks are strong and stock prices are rising • Bear Market – when stock prices are falling

  20. Advanced Economics 4/20/12http://mrmilewski.com • OBJECTIVE:Examine how human psychology and finance interact. • I. Administrative Stuff • II. Journal#13 -Take notes on the following film: -Nova: Mind over Money • Notice: 32 Days until the Senior’s Last Day!

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